Trade Desk’s (TTD) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Trade Desk (NASDAQ:TTD) in a research report released on Friday morning, Marketbeat reports. Needham & Company LLC currently has a $84.00 target price on the technology company’s stock.

A number of other research analysts have also recently issued reports on TTD. Evercore ISI cut shares of Trade Desk from an “outperform” rating to an “inline” rating and decreased their price target for the stock from $135.00 to $90.00 in a report on Thursday, February 13th. Citigroup upped their target price on Trade Desk from $63.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 9th. KeyCorp raised their target price on Trade Desk from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Citizens Jmp dropped their price target on Trade Desk from $115.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. Finally, UBS Group cut their price objective on Trade Desk from $116.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Seven research analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $97.15.

Trade Desk Price Performance

Shares of NASDAQ:TTD opened at $71.46 on Friday. The business’s 50-day moving average is $61.50 and its 200 day moving average is $88.34. Trade Desk has a 1 year low of $42.96 and a 1 year high of $141.53. The firm has a market capitalization of $35.12 billion, a P/E ratio of 91.62, a P/E/G ratio of 3.11 and a beta of 1.41.

Trade Desk (NASDAQ:TTD) last issued its quarterly earnings results on Thursday, May 8th. The technology company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.07. The business had revenue of $616.02 million for the quarter, compared to analyst estimates of $575.62 million. Trade Desk had a return on equity of 16.38% and a net margin of 16.08%. The company’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 earnings per share. On average, analysts expect that Trade Desk will post 1.06 EPS for the current year.

Trade Desk declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $564.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trade Desk

In related news, Director David B. Wells sold 28,638 shares of the company’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $79.88, for a total transaction of $2,287,603.44. Following the completion of the transaction, the director now owns 66,985 shares in the company, valued at $5,350,761.80. This represents a 29.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Terry Green sold 26,684 shares of Trade Desk stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $80.03, for a total value of $2,135,520.52. Following the completion of the sale, the chief executive officer now owns 17,018 shares in the company, valued at approximately $1,361,950.54. The trade was a 61.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 9.74% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Trade Desk

Several hedge funds and other institutional investors have recently made changes to their positions in TTD. Focus Financial Network Inc. lifted its holdings in Trade Desk by 2.2% in the 4th quarter. Focus Financial Network Inc. now owns 3,877 shares of the technology company’s stock valued at $456,000 after purchasing an additional 84 shares in the last quarter. Quotient Wealth Partners LLC raised its position in shares of Trade Desk by 4.2% in the fourth quarter. Quotient Wealth Partners LLC now owns 2,347 shares of the technology company’s stock valued at $276,000 after buying an additional 94 shares during the last quarter. TFB Advisors LLC lifted its stake in shares of Trade Desk by 2.6% in the fourth quarter. TFB Advisors LLC now owns 3,759 shares of the technology company’s stock worth $442,000 after buying an additional 94 shares in the last quarter. Centurion Wealth Management LLC lifted its stake in shares of Trade Desk by 2.6% in the fourth quarter. Centurion Wealth Management LLC now owns 3,773 shares of the technology company’s stock worth $443,000 after buying an additional 96 shares in the last quarter. Finally, Values First Advisors Inc. boosted its position in Trade Desk by 0.9% during the fourth quarter. Values First Advisors Inc. now owns 11,892 shares of the technology company’s stock worth $1,398,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 67.77% of the company’s stock.

About Trade Desk

The Trade Desk, Inc operates as a technology company in the United States and internationally. The company offers a self-service cloud-based platform that allows buyers to plan, manage, optimize, and measure data-driven digital advertising campaigns across various ad formats and channels, including video, display, audio, digital-out-of-home, native, and social on various devices, such as computers, mobile devices, televisions, and streaming devices.